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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  AltaGas Ltd.    ALA   CA0213611001


Delayed Quote. Delayed Toronto Stock Exchange - 10/22 04:00:00 pm
17.48 CAD   -0.96%
10/23ALTAGAS LTD. : Ex-dividend day for
10/19TSX flat as energy losses offset gains from materials, stimulus hopes
10/16ALTAGAS : agrees to pay $715 million to double stake in midstream firm Petrogas
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Mountain Valley seeks U.S. OK to restart work on WV-VA natgas pipe

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09/23/2020 | 12:47pm EDT

Sept 23 (Reuters) - Mountain Valley Pipeline LLC asked federal regulators for permission to resume construction on the $5.4-$5.7 billion pipeline from West Virginia to Virginia by Sept. 25.

Mountain Valley said that would allow it to complete as many activities as possible before winter, according to a filing with the U.S. Federal Energy Regulatory Commission (FERC) late on Tuesday.

FERC suspended work on Mountain Valley in October 2019 due to litigation over the project's Biological Opinion from the U.S. Fish and Wildlife Service (FWS), which allows the project to work in areas inhabited by endangered and threatened species.

The FWS issued a new Biological Opinion in early September.

Analysts at ClearView Energy Partners said on Wednesday they expect FERC will allow Mountain Valley to resume construction even though some environmental groups and others will oppose the return to work and the new Biological Opinion.

U.S. pipeline company Equitrans Midstream Corp, one of the partners in Mountain Valley, said in early September it expects the pipeline to enter service in early 2021.

Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits issued by the Trump administration.

In February 2018, when Equitrans started construction of the 303-mile (488-km) pipeline designed to deliver 2 billion cubic feet per day of gas from the Marcellus and Utica shale, it estimated Mountain Valley would cost about $3.5 billion and be completed by the end of 2018.

Equitrans has said it expects to receive new approvals soon from FERC and the U.S. Army Corps of Engineers that will enable it to finish building the last 8% of the project.

Mountain Valley is owned by units of Equitrans, NextEra Energy Inc, Consolidated Edison Inc, AltaGas Ltd and RGC Resources Inc.

(Reporting by Scott DiSavino; Editing by Tom Brown)

Stocks mentioned in the article
ChangeLast1st jan.
ALTAGAS LTD. -0.96% 17.48 Delayed Quote.-11.63%
CONSOLIDATED EDISON, INC. 1.38% 81.44 Delayed Quote.-9.98%
EQUITRANS MIDSTREAM CORPORATION 5.30% 8.54 Delayed Quote.-36.08%
LONDON BRENT OIL 0.00% 42.36 Delayed Quote.-35.20%
RGC RESOURCES, INC. -0.59% 23.6 Delayed Quote.-16.93%
WTI -0.12% 40.49 Delayed Quote.-35.02%
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More news
Sales 2020 5 017 M 3 813 M 3 813 M
Net income 2020 622 M 473 M 473 M
Net Debt 2020 7 603 M 5 778 M 5 778 M
P/E ratio 2020 8,28x
Yield 2020 5,50%
Capitalization 4 885 M 3 721 M 3 712 M
EV / Sales 2020 2,49x
EV / Sales 2021 2,20x
Nbr of Employees 2 801
Free-Float 94,8%
Duration : Period :
AltaGas Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends ALTAGAS LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 15
Average target price 20,90 CAD
Last Close Price 17,48 CAD
Spread / Highest target 31,6%
Spread / Average Target 19,6%
Spread / Lowest Target 8,70%
EPS Revisions
Randall L. Crawford President, Chief Executive Officer & Director
Pentti O. Karkkainen Chairman
D. James Harbilas Chief Financial Officer & Executive Vice President
David Wallace Cornhill Independent Director
Allan L. Edgeworth Independent Director
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